A suit against third-party administrator Vantage Benefit Administrators has been amended to include another party alleged to be complicit in the theft of money from a number of retirement plans. Read More

Legislation has been introduced to address the proliferation of small accounts that the bill’s sponsors say is costing Americans tens of billions of dollars every year in lost savings because of cash-outs and redundant fees — not to mention lost savings from missing accounts. Read More

Fiduciaries have been sued for offering a stable value fund that is too risky, not risky enough – and for not offering one at all. Only Goldilocks, it seems, could safely offer a stable value fund. Read More

One year after the SEC’s money market fund reform rules went into effect, there appears to be a sizable shift away from MMFs towards stable value funds as a capital preservation option in DC plans. Read More

Another excessive fee suit – this one involving a not-so-jumbo plan – claims that 401(k) plan fiduciaries “severely mismanaged the Plan in a myriad of ways,” notably by, in the plaintiff’s words, “imprudently incorporating funds on its menu that were excessively expensive.” Read More

Lawsuits alleging breach of fiduciary duty related to the selection of capital preservation investment options should serve as a caution to DC plan fiduciaries of the plaintiffs’ bar’s growing interest in this asset class, as well as the processes used in selecting and monitoring these options. Read More

In a July 18 letter responding to the Labor Department’s request for information (RFI) on its fiduciary regulation, the American Retirement Association (ARA) has requested an extension of the applicability date – and a streamlined levelized fee exemption. Read More